The Central Board of Direct Taxes (CBDT) asked its field formations on Thursday to not treat income arising out of a share transfer by Indian subsidiaries of multinational companies (MNCs) to its parent and other related entities as taxable. It,…
SSI exemption of Service Tax to be granted to all co-owners of property
Sometimes there are two or more co-owners of a property and given on rent to a single person. Now dispute arises as to whether SSI limit is to be applied to the amount collectively received by individual co-owner(s) or individually…
Brief Overview of a One Person Company (OPC)
Contributed by: Ankita Ghosh (CA & CS Final Student) Under the existing Company Law framework, a private limited company is required to have a minimum of two shareholders and two Directors. But The Companies Act, 2013 passed by the Lok…
Refund cannot be denied on the basis of non-supply of documents without specifying list of documents
In the case of CMA CGM Global (India) (P.) Ltd. v. Commissioner of Service Tax, Mumbai – II (2013) 35 318 (Mumbai — CESTAT), Honorable Mumbai Tribunal has observed that before denying benefit of refund claim for want of required documents,…
Sukanya Samridhi Account as a part of Beti Bachao Beti Padhao campaign
Contributed by: Ankita Ghosh (CA & CS Final Student) Prime Minister Narendra Modi today launched a small deposit scheme for girl child, as part of the ‘Beti Bachao Beti Padhao’ campaign, which would fetch an interest rate of 9.1 per cent…
SUSPENSION OF E‑SERVICES IN wbcomtax.gov.in FROM 02/02/2015 TO 08/02/2015
URGENT NOTICE: Due to some very urgent server and database related work, the e‑services provided by the Directorate through www.wbcomtax.gov.in shall remain suspended from 02.02.2015 till 08.02.2015. The server will become operational on and from 09.02.2015. The internal services provided…
Cost Inflation Index for Capital Gain Computation
Explanation (iii) to section 48 defines the term “indexed cost of acquisition” as the amount which bears to the cost of acquisition, the same proportion as the cost inflation index for the year in which the asset is transferred bears…
The result of the CA Intermediate (IPCC) held in November, 2014 is likely to be declared on 4th February, 2015 around 4.00 P.M.
The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2014 is likely to be declared on Wednesday, the 4th February, 2015 around 4.00 P.M. and the same as well as the merit list (candidates securing…
Verification Of Marks Of Company Secretaries Examinations
In terms of Regulation 46 (2) of the Company Secretaries Regulations, 1982, as in force, a candidate can seek “Verification of Marks” in any subject(s) of CS examination within 30 days from the date of declaration of results. The application…
A Group has been constituted Pursuant to C&AG’s Report on Excess Tax Audit & performance of Audit Done By CA
Pursuant to C&AG’s Report ‘Performance Audit on Appreciation of Third Party (Chartered Accountants) — Reporting in Assessment Proceedings’ for the year ended March, 2014, the President, in terms of the authority given to him by the Council at its 331st…
Results of the [IRM], [ITL & WTO], (MAC-Part‑I), CMC-Part‑I) and (TMC-Part‑I) held in Nov, 2014 are likely to be declared on 4th February, 2015
The results of the Insurance & Risk Management [IRM], International Trade Laws & World Trade Organisation [ITL & WTO], Management Accountancy Course (MAC-Part‑I), Corporate Management Course (CMC-Part‑I) and Tax Management Course (TMC-Part‑I) Examinations held in November, 2014 are likely to…